The 42nd ASEAN Economic Ministers’ Meeting, the 4th ASEAN Economic Council (AEC) Meeting and related meetings began in Da Nang on August 25 with ASEAN Secretary General Surin Pitsuwan, and the ministers of 10 ASEAN countries and partners China, the Republic of Korea, Japan, EU, India, Russia, Australia and New Zealand taking part.
Speaking at the opening ceremony, Prime Minister Nguyen Tan Dung underlined that 2010 is a pivotal year in the process to build an ASEAN Community with the three pillars of politics-security, economics and socio-culture, of which the ASEAN Economic Community (AEC) has made significant progress. Integration commitments and economic co-operative programmes, which are at the core of the AEC are gradually coming to life. A common market and united economic bloc is being formed based on harmonising domestic commercial regulations and the ability to regulate macro-policies amongst ASEAN member countries. Building an AEC demonstrates the bloc’s strong consensual commitment to regional economic integration.
Mr Dung said that ASEAN’s growth has been attributed to economic co-operation. The road towards an AEC has passed several significant landmarks. An ASEAN free trade area in goods, services and investment is currently being formed. Several key co-operative programmes on one-door custom mechanisms and facilitating trade, investment and services have brought about new prospects for an open business environment. In addition, the overall plan on ASEAN that the organisation is creating will promote efforts to link up economies, including enhancing the transport infrastructure, telecommunications, information technology, and domestic institutions.
He added that implementing the Chiang Mai Initiative and establishing an ASEAN Investment and Credit Guarantee Fund will help to stabilise the financial situation and maintain the growth rate in the region.
Mr Dung said despite many important achievements, ASEAN needs to have a consensus based on consistent principles for the whole community’s benefit. He urged the meeting to draw up practical measures to help put the AEC into action by 2015.
ASEAN adheres to a number of balanced and sustainable development policies, to ensure there is harmonious between economic growth and a stable macroeconomy, social development and dealing with global challenges, such as climate change, natural disasters, epidemics and economic instability. It will strengthen and complete its current economic co-operative framework with various partners and come up with specific measures to quickly bridge the development gap.
Mr Dung said he believes that ministers at the meeting will put together effective measures and ways of reaching regional integration targets./.